**Realized Cap Analysis Indicates Stagnant Net Capital Inflow**

The Realized Cap metric, which evaluates each coin (UTXO) based on its last trade on the network, currently stands at $461 billion, reflecting a modest increase of $3 billion or 0.66%. This slight uptick highlights minimal movement and net capital inflow, suggesting a stagnant market phase.

Key inflection points in the Realized Cap provide insights into market conditions:

1. Market tops: Realized Cap stabilizes, indicating a shift from profit to loss.

2. Bear market recovery: HODL behavior establishes market floors with steady capital inflow into Bitcoin.

3. Bull market rally: HODL investors capitalize on market highs.

Since August, the $461 billion Realized Cap signals a recovery phase with negligible net capital inflow, indicating liquidity neutrality. For a bullish trend, significant Bitcoin movement is essential within the next 30 days to break this stagnation.